China’s Unitree has listed on Shanghai’s Star Market, the technology board of the Shanghai Stock Exchange that is often described as China’s answer to the US Nasdaq. The offering raised 6.1 billion yuan, or about €780 million, according to figures reported around the listing.
The maker of quadruped and humanoid robots issued 40.45 million shares at an offer price of 150.80 yuan, about €19.30 per share. At that issue price, Unitree was valued at close to €57 billion.
Unitree stock jumps 630% on debut, then pulls back
On the first day of trading, the stock rose by almost 630% to reach 1,100 yuan, according to the state news agency Xinhua. It then fell back and closed in Shanghai at around 884 yuan, or about €113.
Demand far outstripped supply. Before the listing, the offering was oversubscribed about 8,300 times, meaning demand exceeded the number of shares on offer by that factor. For a retail investor, the chance of being allocated a share fell below 0.02%.
Unitree says it plans to use the proceeds for research and development, new products and the construction of a production site.
Unitree revenue and profit: modest figures next to its valuation
Set against its market value, the company’s results remain limited. In its last financial year, Unitree posted a profit of 278.21 million yuan, close to €35.8 million, on revenue of about 1.7 billion yuan, or around €220 million.
In terms of volume, the company sold more than 5,500 humanoid robots in 2025, according to the Shanghai Stock Exchange. Between 2023 and 2025, it sold a total of 33,294 quadruped robots and 5,632 humanoid robots, plus an undisclosed number of wheeled robots fitted with two arms.
Founded in 2016 in Hangzhou, in the eastern province of Zhejiang, Unitree has become one of the leading makers of quadruped and humanoid robots, a field long dominated by American companies. Boston Dynamics was the benchmark there. That company has changed hands several times and is now owned by the Korean group Hyundai.
Unitree unveils Superman humanoid robot ahead of its IPO
In the run-up to the listing, Unitree presented a humanoid robot called Superman. In a video posted on X, the company claims it runs faster than sprinter Usain Bolt and can jump 2 metres high from a standing start.
Earlier in the year, during the New Year celebrations, Unitree robots performed backflips and martial arts moves. The previous year’s demonstration was limited to simpler dance steps.
The market for humanoid robots is seen as huge, with potential uses in manufacturing, particularly in the car industry, and in personal care. The one-child policy introduced in China in the 1980s has led to a sharply ageing population, and affordable humanoid robots are presented as a possible source of support in that context.
Further reading: Unitree: the maker of the affordable humanoid robot